19 August 2005
Credit card users are saying that security on their card is the most important feature for them, a report has revealed.
The study, from Tesco Personal Finance, says that 79 per cent - or four out of every five - consumers would choose from among a range of cards with similar interest rates based on its security features.
However, a majority (72 per cent) think that individuals are responsible for avoiding fraudulent use of their card, while most credit card holders (52 per cent) believe that firms that emphasise security features take the matter more seriously than those who do not.
Alistair Smillie, head of Tesco Credit Card, said: "Credit card security is a very real concern for many. Our study shows that people want a clear understanding of the protection they have from their provider. It's up to credit card companies to do all they can, to meet their customers' expectations.
"Consumers now want to know that when they sign up for a new credit card they are also signing up for protection should things go wrong. We are taking every step we can and we would encourage customers to do the same."
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